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Buy a bounce from the supportive trendline towards 1.22155.

Buy a bounce from the supportive trendline towards 1.22155. | 08 August 2019

08 August 2019, GBP/USD

Technical Observation

While the price is within the rising channel formation, we expect further momentum to the upperside. While the price is contained within this channel formation, we're only interested in looking for buy orders. A bounce from the supportive trendline will mean we're looking for buy orders while a bounce from the upper trendline will mean we're looking for sell orders. A break below the supportive trendline will push the price further to the lowerside with an ultimate target at 1.20805.

Trade Recommendations:

Buy a bounce from the supportive trendline towards 1.22155.

Imelda Maseno
Analyst of «FreshForex» company
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